19th Apr 2016 06:39
LONDON (Alliance News) - Engineering software company AVEVA Group PLC on Tuesday said it anticipates revenue and adjusted pretax profit, stripping out exceptional items, will broadly meet market expectations for the year to the end of March.
The group did notE, however, the adjusted pretax profit had taken a hit in March from the weakening of the dollar.
AVEVA said its focus remains on ensuring it has allocated its resources as efficiently as possible as the market pressures on the oil and gas and mining industries continue.
As a result of this focus, AVEVA said it has recently cut further costs out of the business and will book a one-off exceptional cost of GBP4.0 million related to these measures, part of which will be recognised in the year to the end of March 2016.
AVEVA will publish its full annual results on May 24.
By Sam Unsted; [email protected]; @SamUAtAlliance
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